One of the largest crypto exchanges Coinbase has been subject to an outage after bringing in an absurd amount of new customers at the same time.
With the crypto industry bursting its way into mainstream media, exchanges are now seeing the potential of advertising their platforms to large audiences. However, sometimes it doesn’t go as planned.
The second-largest crypto exchange Coinbase bought the 30-second ad space on Super Bowl for almost $14M, bringing in vast amounts of fresh users. The platform briefly crashed but was quickly fixed by the team behind Coinbase.
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Meanwhile, the commercial became a laughing stock on social media, many retweeting Snowden's statement, calling out Coinbase for "spending 16M on an ad", and not being able to run the website due to the oncoming traffic of new users.
Coinbase’s ad appeared during the Rams vs Bengals match, on which Drake staked $1.3M in Bitcoin. It had a QR code which, after scanning it, would take the person to Coinbase’s page, offering a $15 in BTC bonus for newly registered users.
Other platforms have also purchased ad spaces on the Super Bowl. In late December of 2021, FTX and Crypto.com purchased ad spaces for the same event, with FTX receiving much praise by bringing in a celebrity like Larry David into its campaign.
